The loan will be used to refurbish 15 small hydropower plants with a combined capacity of 18MW and to build seven new ones with a combined capacity of 13MW on existing dams.
The project will help EPS to modernise and extend the lifetime of the company’s existing small hydropower plants and increase the overall generation of renewable energy.
In addition, EPS has created a subsidiary that will manage and operate investments in renewable energy. This new subsidiary, EPS Renewables, will focus on developing new renewable energy generating capacity.
“Investing in green energy generation is one of the EBRD’s key priorities and the Bank is firmly committed to supporting Serbia and the region in expanding the production of renewable energy. EPS is a long-term partner for the EBRD, and we are very pleased to be strengthening our cooperation with this loan for small hydropower plants,” said Nandita Parshad, the EBRD’s Director for Power and Energy.
“This project will improve the operational performance of the existing small hydropower plants as well as finance the construction of new, small hydropower plants on existing dams. It will help Serbia to achieve its renewable energy goals, and marks an important step in the further development of Serbia’s electric power industry,” added Dragomir Markovic, EPS’s General Manager.
